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Memphis hotel occupancy in 2018 has fallen off a torrid pace of recent years, with growth in home-sharing and the convention center’s pending renovation shouldering some of the blame, industry officials say.

The developers of a $24 million Overton Square hotel and a Canadian elevator company looking to build its first U.S. facility in Memphis have been awarded tax incentives to move ahead with their projects.

Loeb Properties wants to build on the revival of Overton Square by adding a $24 million, 100-room hotel in the district.

The Memphis-based company and its partners – boutique hotel developer LRC2 Properties and hospitality management company MMI Hotel Group – are seeking a 15-year tax abatement to construct a 100-room boutique hotel at the southwest corner of Cooper Street and Trimble Place, south of Madison Avenue in Midtown Memphis.

At the end of the final hour-long panel discussion during the two-day Southern Lodging Summit Downtown, Chad Crandell, the managing director and CEO of CHM Warnick – one of the best-known hotel asset management firms and advisers to hotel owners – made his pitch.

Nationally and in Memphis, the hotel room supply, room demand, occupancy rate and average daily room rate were all on the rise year-to-date through July, pointing to a healthy market overall.

That’s according to information compiled by STR presented at the Southern Lodging Summit Wednesday morning, Aug. 30, at the Cook Convention Center in Memphis. The Southern Lodging Summit is an annual event hosted by Pinkowski & Co. and the Metropolitan Memphis Hotel and Lodging Association.

More Downtown hotel rooms. Lots of them. And preferably under one roof.

“We need a big hotel,” said Chuck Pinkowski of Pinkowski & Co. “Four hundred, 500, 600, 800, 1,000. We need a big hotel at the Cook Convention Center to see more conventions. The question is: How do you fund improvements to the convention center and how do you fund a big hotel?”

Many of the area’s best and brightest commercial real estate minds were on hand for the Memphis Area Association of Realtor’s Annual Commercial Property Forecast Summit at the Halloran Centre for Performance Thursday afternoon.

The Memphis Area Association of Realtors’ Commercial Council will host its 15th annual Commercial Property Forecast Summit on Thursday, Feb. 16, at the Halloran Centre for the Performing Arts & Education, 225 S. Main St.

The Memphis Area Association of Realtors’ Commercial Council will host its 15th annual Commercial Property Forecast Summit on Thursday, Feb. 16, at the Halloran Centre for the Performing Arts & Education, 225 S. Main St.

The Memphis area hotel market continues on its solid run of the past few years, led by the Downtown submarket with strong occupancy and room rates. The pipeline for new Downtown hotel projects is loaded, with as many as 15 projects in various stages of development and hotel construction picking up in other parts of the county.

The pair of skyscrapers meant for the corner of Beale Street and Riverside Drive have hit a few roadblocks, but Chase Carlisle hopes that construction will begin on the One Beale project within a year.

A six-story Homewood Suites hotel is the latest new development proposed in the South Main Historic District.

The application to the Land Use Control Board for the hotel at 139 Vance Ave., between Mulberry and Second streets, is from NPH Investments on a lot owned by Henry and Cheri Rudner. The proposed site sits two blocks north of the National Civil Rights Museum and three blocks south of FedExForum.

To keep tourists flowing to Downtown, the Center City Revenue Finance Corp. grants tax breaks, or payment-in-lieu-of-tax incentives, for hotel developers. Such readily available incentives have helped create a market with 15 hotels and 3,000 rooms in Downtown Memphis.

A wave of Downtown hotel plans has officials pumping the brakes on using public incentives for smaller, limited-service hotels.

With up to a dozen Downtown hotel projects in the development pipeline, the Memphis Convention and Visitors Bureau has asked the Downtown Memphis Commission to explore limiting incentives to large, full-service hotels.

The Memphis hotel market is being classified as somewhat sluggish in 2013 because of slower than anticipated convention traffic, but hotels such as the Memphis Marriott East and Downtown’s Madison Hotel reported busier second halves of the year.

To illustrate the stiff competition Memphis faces in landing conferences and conventions because of hotel room capacity available in the city, Memphis-based hotel consultant Chuck Pinkowski points to a formidable foe just three hours away.

The Metropolitan Memphis Hotel & Lodging Association recently elected its slate of officers to serve in 2013, and the group now ramps up for a busy year, including the 14th annual MMHLA Lodging Industry Update on Feb. 22 at the Hilton Memphis.

The good news for the local hotel industry is that last year notched the most rooms ever sold on a daily basis with 4.8 million – 115,628 more than 2010 and 76,780 more than the previous high set in 2007.

Recovery continues in the local hotel market, fueled in part by several Downtown luxury hotels that have experienced healthy business in 2011 and anticipate an even stronger performance next year.

Overall occupancy rate year-to-date for all hotels in the Mid-South is 59.4 percent, up from 57.6 percent last year at this time, according to third-quarter statistics from Smith Travel Research. The market’s average daily rate (ADR) has held steady since last year, hovering near $76, while revenue per available room (RevPAR) has jumped to $45.14, up from $43.81.

The Memphis hotel and lodging market is experiencing increased demand and rising occupancy rates thanks to no new hotel construction and flat supply.

“Memphis is pretty much a mid-scale market, and the market is doing better right now than it was at this time last year,” said Chuck Pinkowski of the hotel consulting firm Pinkowski & Co. “With the improving economic situation, both commercial and leisure travel are coming back.”

Memphis’ lodging industry officials might be breathing a sigh of relief, as the worst of the hotel industry’s slump seems to be in the rearview mirror.

The feeling coming out of this month’s annual Metropolitan Memphis Hotel and Lodging Association industry update is optimism for a strong 2011, buoyed by increased demand and a lack of new construction.

Collierville used to be a sleepy country town, but it soon will turn into a good place for travelers to get some sleep.

Southern Hospitality LLC plans to begin construction on a 131-room Courtyard by Marriott hotel in early 2007 that will become the third anchor of The Avenue Carriage Crossing outdoor mall in Collierville, the Memphis suburb with an estimated 44,000 residents.

An Arkansas-based commercial real estate firm is adding two new hotels to Memphis' real estate landscape. More specifically, they're hotels of the extended stay, quasi-apartment variety.

Whitt Properties Inc. is building seven extended stay properties under the national Value Place brand in four states, two of which will be built in Memphis. One, at Riverdale Road and Tenn. 385, will open later this month. The other, at 5787 Shelby Oaks Drive, will open in early 2007.

Toward the end of the public tour visitors get to take of Sun Studio, the tour guide punches a button on a large piece of recording equipment, sending the wound-up voice of deejay Dewey Phillips howling through the speakers.

Since it opened in 1907, the opulent Plaza Hotel in New York City has hosted kings and presidents, figured prominently in the novel "The Great Gatsby" and been the setting for such Hollywood productions as "North by Northwest."

35. Archived Article: Calendar - Monday, November 17, 1997 Nov Nov. 17 The Fayette County Chamber of Commerces West Fayette chapter will hold its Night on the Grow celebration at the Oakland Deposit Bank at 6 p.m. Admission is free. For more information, call 465-8690. Nov. 18 The National Association of Wo...